Cash America International, Inc. (NYSE:CSH) was in 12 hedge funds’ portfolio at the end of the fourth quarter of 2012. CSH has seen a decrease in support from the world’s most elite money managers lately. There were 16 hedge funds in our database with CSH holdings at the end of the previous quarter.
To the average investor, there are tons of methods investors can use to analyze publicly traded companies. Two of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top fund managers can outperform their index-focused peers by a solid margin (see just how much).
Just as beneficial, positive insider trading sentiment is a second way to break down the financial markets. As the old adage goes: there are plenty of stimuli for an insider to drop shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Many empirical studies have demonstrated the useful potential of this tactic if investors understand where to look (learn more here).
Now, we’re going to take a glance at the key action encompassing Cash America International, Inc. (NYSE:CSH).
What have hedge funds been doing with Cash America International, Inc. (NYSE:CSH)?
In preparation for this year, a total of 12 of the hedge funds we track held long positions in this stock, a change of -25% from the third quarter. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were upping their holdings substantially.
Of the funds we track, Cardinal Capital, managed by Amy Minella, holds the biggest position in Cash America International, Inc. (NYSE:CSH). Cardinal Capital has a $38 million position in the stock, comprising 2.6% of its 13F portfolio. The second largest stake is held by Renaissance Technologies, managed by Jim Simons, which held a $19 million position; 0.8% of its 13F portfolio is allocated to the company. Remaining peers with similar optimism include D. E. Shaw’s D E Shaw, Ken Griffin’s Citadel Investment Group and Jay Petschek and Steven Major’s Corsair Capital Management.
Since Cash America International, Inc. (NYSE:CSH) has faced bearish sentiment from the aggregate hedge fund industry, it’s safe to say that there exists a select few hedgies who were dropping their positions entirely last quarter. Interestingly, Geoffrey S. McCuskey’s Riverside Advisors dumped the biggest investment of all the hedgies we key on, worth about $3 million in stock., and Richard Schimel of Diamondback Capital was right behind this move, as the fund said goodbye to about $1 million worth. These moves are interesting, as total hedge fund interest was cut by 4 funds last quarter.
What do corporate executives and insiders think about Cash America International, Inc. (NYSE:CSH)?
Bullish insider trading is at its handiest when the company in focus has seen transactions within the past six months. Over the last six-month time period, Cash America International, Inc. (NYSE:CSH) has experienced zero unique insiders buying, and 4 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to Cash America International, Inc. (NYSE:CSH). These stocks are World Acceptance Corp. (NASDAQ:WRLD), CapitalSource, Inc. (NYSE:CSE), PHH Corporation (NYSE:PHH), First Cash Financial Services, Inc. (NASDAQ:FCFS), and Nelnet, Inc. (NYSE:NNI). This group of stocks belong to the credit services industry and their market caps resemble CSH’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|World Acceptance Corp. (NASDAQ:WRLD)||8||0||10|
|CapitalSource, Inc. (NYSE:CSE)||14||0||2|
|PHH Corporation (NYSE:PHH)||28||0||2|
|First Cash Financial Services, Inc. (NASDAQ:FCFS)||7||0||4|
|Nelnet, Inc. (NYSE:NNI)||14||0||2|
With the results demonstrated by Insider Monkey’s research, everyday investors should always keep an eye on hedge fund and insider trading activity, and Cash America International, Inc. (NYSE:CSH) applies perfectly to this mantra.
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